MIRA INFORM REPORT

Report Date :

02.09.2014

IDENTIFICATION DETAILS

Name :	VIZRT AUSTRIA GMBH

Formerly Known As :	PEAK SOFTWARE TECHNOLOGIES GMBH SOFTWAREENTWICKLUNG UND - VERTRIEB

Registered Office :	Industriestraße 2a, A-6134 Vomp

Country :	Austria

Financials (as on) :	31.12.2012

Date of Incorporation :	13.09.1997

Legal Form :	Limited Liability Company

Line of Business :	Subject is engaged in software publishing

No of Employees :	60

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory

Payment Behaviour :	No Complaints

Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – June 01, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Austria

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderate Low Risk	B1
Moderate Risk	B2
Moderate High Risk	C1
High Risk	C2
Very High Risk	D

austria - ECONOMIC OVERVIEW

Austria, with its well-developed market economy, skilled labor force, and high standard of living, is closely tied to other EU economies, especially Germany's. Its economy features a large service sector, a sound industrial sector, and a small, but highly developed agricultural sector. Following several years of solid foreign demand for Austrian exports and record employment growth, the international financial crisis of 2008 and subsequent global economic downturn led to a sharp but brief recession. Austrian GDP contracted 3.8% in 2009 but saw positive growth of about 2% in 2010 and 2.7% in 2011. Growth fell to 0.6% in 2012. Unemployment did not rise as steeply in Austria as elsewhere in Europe, partly because the government subsidized reduced working hour schemes to allow companies to retain employees. The 2012 unemployment rate of 4.3% was the lowest within the EU. Stabilization measures, stimulus spending, and an income tax reform pushed the budget deficit to 4.5% in 2010 and 2.6% in 2011, from only about 0.9% in 2008. The international financial crisis of 2008 caused difficulties for Austria's largest banks whose extensive operations in central, eastern, and southeastern Europe faced large losses. The government provided bank support - including in some instances, nationalization - to support aggregate demand and stabilize the banking system. Austria's fiscal position compares favorably with other euro-zone countries, but it faces external risks, such as Austrian banks' continued exposure to Central and Eastern Europe as well as political and economic uncertainties caused by the European sovereign debt crisis. In 2011 the government attempted to pass a constitutional amendment limiting public debt to 60% of GDP by 2020, but it was unable to obtain sufficient support in parliament and instead passed the measure as a simple law. In March 2012, the Austrian parliament approved an austerity package consisting of a mix of expenditure cuts and new revenues that will bring public finances into balance by 2016. In 2012, the budget deficit rose to 3.1% of GDP.

Source : CIA

Basic company information


Last up-date:	2014-08-20
Company name:	VIZRT AUSTRIA GMBH
Status:	active company
Locations:	Industriestraße 2a, A-6134 Vomp
Phone:	0043 (5242) 73225
Fax:	0043 (5242) 73225 - 50
E-mail:	support.at@vizrt.com
E-mail:	akaltenhauser@vizrt.com
E-mail:	chuber@vizrt.com
Internet:	http://www.vizrt.com
Activities:	Önace 58290 100% Other software publishing

General Assessment:	Model: CompanyScore
Probability of Default (Basel II):	0,07% Very low risk
comparison:	The KSV-Rating of this company is better than industry average.
Recommendation:	In respect to solvency reasons, there is nothing to say against an establishment of a business relationship.

Detail Assessment:	Payment 250 Since company is in the service industry only limited experience is available. As far as insight is possible, payments are made within net agreements.
	Assessment 200 Financial situation is good.

Additional company information


Year of incorporation:	1997
Activities:
Type of company:	Information and communication
Legal form:	limited liability company since 1997-07-04
companies' house number:	FN 161386 h Innsbruck 1997-09-13
VAT number:	ATU 43296401
ARA-number:	50892
number - Austrian National Bank:	3718689


Export		Country
Export		world-wide	2014

Financial data

total turnover (total sales)	2013	EUR 20.200.000,00	(approx.)
total turnover (total sales)	2012	EUR 23.300.000,00	(approx.)
total turnover (total sales)	2011	EUR 18.500.000,00	(approx.)
total turnover (total sales)	2010	EUR 18.592.000,00	(approx.)
total turnover (total sales)	2009	EUR 16.598.000,00	(approx.)
total employees	2014	60	(approx.)
white collar workers	2014	57	(approx.)
apprentices	2014	3	(approx.)
total investments	2012	EUR 186.304,12	(exact)
total company vehicles	2014	6	(approx.)
cars	2014	5	(approx.)
lorries up to 3.5t	2014	1	(approx.)

Extraxt from the Companies' House

firm (style):

19 Vizrt Austria GmbH

legal form:

1 Gesellschaft mit beschränkter Haftung

registered office:

26 politischer Gemeinde Vomp

business adress:

26 Industriestraße 2a 6134 Vomp

capital:

19 EUR 36.336,42

reference date annual accounts:

1 31. Dezember

annual accounts:

25 zum 31.12.2012 eingereicht am 31.10.2013

power of representation:

1 Die Gesellschaft wird, wenn mehrere Geschäftsführer

bestellt sind, durch zwei Geschäftsführer gemeinsam oder

durch einen von ihnen gemeinsam mit einem Prokuristen

vertreten soferne nicht im Bestellungsbeschluß oder durch

die Generalversammlung eine abweichende Regelung getroffen

wird.

1 Gesellschaftsvertrag vom 04.07.1997 001
19 Gesellschaftsvertrag mit Generalversammlungsbeschluss 002

vom 03.08.2010

gemäß 1. Euro-JuBeG angepasst.

Änderung des Gesellschaftsvertrages in den Punkten Erstens

Ziffer (1). und Drittens.

26 Generalversammlungsbeschluss vom 04.04.2014 003

Änderung des Gesellschaftsvertrages in Punkt Erstens.

proxy:

H Mag. Armin Kaltenhauser, geb. 17.06.1969

19 vertritt seit 03.08.2010 gemeinsam mit

einem Geschäftsführer

managing director:

A DI Christian Huber, geb. 01.09.1968

1 vertritt seit 13.09.1997 gemeinsam mit

einem weiteren Geschäftsführer oder einem Prokuristen

B Karl-Heinz Klotz, geb. 18.03.1959

1 vertritt seit 13.09.1997 gemeinsam mit

einem weiteren Geschäftsführer oder einem Prokuristen

shareholder:

I VIZ.R.T.Ltd.

20 ....................... EUR 36.336,42

20 .................................................. EUR 36.336,42

Summen: EUR 36.336,42 EUR 36.336,42

general table:

Landesgericht Innsbruck
   1 eingetragen am 13.09.1997                  Geschäftsfall 50 Fr 4199/97 f
       Antrag auf Neueintragung einer Firma eingelangt am 05.08.1997
15 eingetragen am 18.07.2008                  Geschäftsfall 61 Fr   825/08 p
       Antrag auf Änderung eingelangt am 10.07.2008
19 eingetragen am 25.08.2010                  Geschäftsfall 61 Fr 1015/10 k
       Antrag auf Änderung eingelangt am 05.08.2010
20 eingetragen am 05.10.2010                  Geschäftsfall 61 Fr 1356/10 m
       Antrag auf Änderung eingelangt am 23.09.2010
25 eingetragen am 15.11.2013                  Geschäftsfall 61 Fr 2610/13 h
       Elektronische Einreichung Jahresabschluss eingelangt am 31.10.2013
26 eingetragen am 15.04.2014                  Geschäftsfall 61 Fr   637/14 s
       Antrag auf Änderung eingelangt am 08.04.2014

Real estate

Real estate KSV text:

No real estate property registered

Private data

Surname

Date of birth

Address

Executive positions

Further executive positions (as registered in the companies' house)

Dipl-Ing. Christian Huber

1968-09-01

6130 Schwaz Kraken 12b

manager,

head of marketing,

technical director,

head of personnel

Karl Heinz Klotz

1959-03-18

6072 Lans Nr. 211

manager

Mag. Armin Kaltenhauser

1969-06-17

6130 Schwaz Husslstraße 29 a-c c/o(c/o)

joint signing clerk,

head of sales

Elke Denk

6130 Schwaz Husslstraße 29 a-c(c/o)

head of accounting

Sieglinde Ehrensberger

6130 Schwaz Husslstraße 29 a-c c/o(c/o)

head of purchasing

Balance Sheet

(absolute) all amounts in EUR

	2012-12-31
Intangible assets	14.927,33
Sum intangible assets	14.927,33

Land with buildings (building value)	26.178,77
Other operating and business equipment	6.916,02
Technical plants and machines	118.249,74
Sum tangible assets	151.344,53

Financial assets	16.236,80
Sum financial assets	16.236,80

Sum fixed assets	182.508,66

Finished products	1.246.217,33
Sum stock	1.246.217,33

Claims against related firmes Claims against companies with shareholding relationship	13.564.074,71
Special account claims	2.697.740,66
Sum claims	16.261.815,37

Cash on hand, cheques and bank deposits	1.838.676,96
Sum cash and bank	1.838.676,96

Sum current assets	19.346.709,66

Deferred charges	218.387,33
Sum deferred charges	218.387,33
Assets	19.747.605,65

Subscribed/declared capital	36.336,42
Capital reserves	6.294.237,16
Balance sheet profit/balance sheet loss	2.674.434,80
Thereof profit/loss carried forward	2.353.398,57
Sum equity capital	9.005.008,38

Reserves for severance pays	296.705,00
Tax reserves	48.118,46
Other reserves	283.192,10
Sum reserves	628.015,56

Liabilities against related firms	8.269.366,38
Other liabilities	1.472.020,41
Sum liabilities	9.741.386,79

Deferred income	373.194,92
Sum deferred income	373.194,92
Liabilities	19.747.605,65

Balance sheet sum	19.747.605,65

P / L Account

(absolute) all amounts in EUR

	2012-12-31
Gross profit	5.270.620,34
Total turnover or gross profit	5.270.620,34

Profits from retirement of fixed assets, except financial assets	12.360,98
Other operating profits	692.403,41
Other operating profits totally	704.764,39

Salaries	-2.703.083,82
Costs for severance pays	-95.296,38
Legal fringe benefits and other payments depending on salaries	-832.831,93
Other social fringe benefits	-72.434,01
Personnel expenses totally	-3.703.646,14

Depreciation of intangible assets, tangible assets,activated expenses for the set up and expansion of business operation	-147.121,66
Depreciation tangible assets / intangible assets totally	-147.121,66

Other operating costs	-1.712.646,64
Other taxes	-7.192,70
Total costs	-1.719.839,34

Operating result totally	404.777,59

Interest income, securties income and similar income	20.192,14
Financial profits totally	20.192,14

Results from usual business activity totally	424.969,73

Taxes on income and profits	-103.933,50
Taxes on income and profits totally	-103.933,50
Annual surplus/annual deficit totally	321.036,23

Annual profit/annual loss totally	321.036,23

Profit and loss carried forward from previous year	2.353.398,57
Transfer of profits totally	2.353.398,57
B/S profit/ B/S loss from profit and loss account	2.674.434,80

Key ratios

	2012
Cash flow II	468.157,89
Debt amortisation period	18,22
Bank indebtedness	0,00
Equity capital share	45,60
Social capital share	1,50
Fixed assets coverage	5.096,58
Net profit ratio	0,00
Capital turnover	0,00
Return on investment	2,15
Cash flow in % of operating performance	0,00
Cash flow I	572.091,39
Gross productivity	0,00
Net productivity	0,00
Operating performance	0,00
Inventories in % of operating performance	0,00
Gross profit	5.270.620,34

Locations

Type	Locations	Description
		E-mail
operational	Industriestraße 2a, A-6134 Vomp	registered office

operational	Industriestraße 2a, A-6134 Vomp	registered headquarters, rented premises
		support.at@vizrt.com akaltenhauser@vizrt.com chuber@vizrt.com
former	Husslstraße 29a, A-6130 Schwaz	registered office

former	Husslstraße 29 a-c, A-6130 Schwaz	registered headquarters

related companies

Company name

Postal code

Stake in %

KSV-number

Companies House

Shares in this company are held by:

VIZ R.T. LTD

Trade Center , IL-60990 Shefayim

100 % 2010-10-05

1.750.754

Affiliated companies and further participations:

Huber, Klotz und Oehm OEG

Falkensteinstraße 2, A-6130 Schwaz

861.365

FN 150918 p

Bankers


Banker	Bank sort code	Type of banking connection
Raiffeisen Regionalbank Schwaz, 6130 Schwaz	36322	main bank connection

Historical development

Year of incorporation:	1997
Date of registration:	1997-09-13

Change of company name:
From	To	Company name
	2010-08-25	PEAK Software Technologies GmbH Softwareentwicklung und - vertrieb
2010-08-25		Vizrt Austria GmbH

Change in share capital:
From	To	Capital
	2010-08-25	ATS 500.000,00
2010-08-25		EUR 36.336,42

Former executives:
From	To	Function	Name
1997-09-13	2008-07-18	manager	Hubert Oehm

Former shareholders:
From	To	Function	Name
1997-09-13	2000-09-15	partner	Dipl-Ing. Christian Huber
1997-09-13	2000-09-15	partner	Karl Heinz Klotz
2000-09-08	2000-09-15	partner	Tempelkroken Invest AS
1997-09-13	2000-09-15	partner	Hubert Oehm
2000-09-15	2010-08-21	partner	Peak Broadcast Systems Limited
2010-08-21	2010-10-05	partner	RT-SET B.V.
1997-09-13	2000-09-08	partner	TV 2 AS

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.61
UK Pound	1	Rs.100.49
Euro	1	Rs.79.56

INFORMATION DETAILS

Analysis Done by :	RAS

Report Prepared by :	SMN

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.